Peddock Capital Advisors LLC purchased a new position in Carnival Corp (NYSE:CCL) in the first quarter, Holdings Channel reports. The fund purchased 688 shares of the company’s stock, valued at approximately $35,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CCL. Nuveen Asset Management LLC lifted its stake in shares of Carnival by 0.5% during the fourth quarter. Nuveen Asset Management LLC now owns 34,308 shares of the company’s stock worth $1,691,000 after purchasing an additional 179 shares in the last quarter. Avestar Capital LLC lifted its stake in shares of Carnival by 13.9% during the first quarter. Avestar Capital LLC now owns 1,609 shares of the company’s stock worth $77,000 after purchasing an additional 196 shares in the last quarter. Manchester Capital Management LLC lifted its stake in shares of Carnival by 9.7% in the first quarter. Manchester Capital Management LLC now owns 2,265 shares of the company’s stock worth $115,000 after acquiring an additional 200 shares in the last quarter. Commonwealth Bank of Australia lifted its stake in shares of Carnival by 0.3% in the first quarter. Commonwealth Bank of Australia now owns 71,898 shares of the company’s stock worth $3,639,000 after acquiring an additional 200 shares in the last quarter. Finally, Hanson McClain Inc. lifted its stake in shares of Carnival by 16.4% in the fourth quarter. Hanson McClain Inc. now owns 1,424 shares of the company’s stock worth $70,000 after acquiring an additional 201 shares in the last quarter. 74.98% of the stock is owned by institutional investors.
CCL has been the topic of several recent analyst reports. Nomura cut their price target on Carnival from $66.00 to $61.00 and set a “buy” rating on the stock in a research note on Wednesday, March 27th. Buckingham Research cut Carnival from a “buy” rating to a “neutral” rating and cut their price target for the stock from $65.00 to $54.00 in a research note on Monday, April 15th. Goldman Sachs Group upgraded Carnival from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $63.00 to $65.00 in a research note on Wednesday, March 13th. Zacks Investment Research cut Carnival from a “hold” rating to a “sell” rating in a research note on Monday, May 20th. Finally, Deutsche Bank reiterated a “hold” rating and issued a $59.00 price target on shares of Carnival in a research note on Wednesday, March 27th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $66.28.
Carnival (NYSE:CCL) last announced its quarterly earnings data on Tuesday, March 26th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.05. Carnival had a return on equity of 12.30% and a net margin of 16.03%. The firm had revenue of $4.67 billion for the quarter, compared to analysts’ expectations of $4.31 billion. During the same quarter in the prior year, the firm posted $0.52 earnings per share. Carnival’s revenue for the quarter was up 10.4% compared to the same quarter last year. On average, analysts anticipate that Carnival Corp will post 4.53 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 24th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.78%. The ex-dividend date is Thursday, May 23rd. Carnival’s payout ratio is currently 46.95%.
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Carnival Company Profile
Carnival Corporation operates as a leisure travel company in North America, Australia, Europe, and Asia. It operates in four segments: North America and Australia Cruise Operations, Europe and Asia Cruise Operations, Cruise Support, and Tour and Other. The company operates cruises under the Carnival Cruise Line, Princess Cruises, Holland America Line, P&O Cruises (Australia), Seabourn, Costa, AIDA, P&O Cruises (UK), and Cunard brand names.
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